Pool Corp. (NASDAQ:POOL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $114.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.38% from the stock’s previous close.
According to Zacks, “For Pool Corp., third-quarter 2016 marked the company’s 26th consecutive quarter of year-over-year growth in sales, gross profit and operating earnings. Notably, the company should continue to benefit in the near term from base business sales growth and favorable trends in the housing market. Moreover, continually strong growth in the pool renovation category along with reasonable improvement in green segment sales (the Horizon segment), is a major positive. Further, stronger consumer discretionary spending along with a tight supply situation, point to consistently robust demand for the rest of 2016 and 2017. The company’s leading market share position and opportunistic expansion strategies position it well for revenue growth. However, seasonality of the company’s business and macroeconomic headwinds remain causes of concern.”
Separately, Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Pool Corp. in a research note on Monday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.40.
Shares of Pool Corp. (NASDAQ:POOL) opened at 101.44 on Wednesday. Pool Corp. has a one year low of $72.40 and a one year high of $103.28. The company has a market cap of $4.19 billion, a P/E ratio of 29.49 and a beta of 0.90. The company’s 50 day moving average is $94.87 and its 200 day moving average is $95.17.
Pool Corp. (NASDAQ:POOL) last issued its earnings results on Thursday, October 20th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The business had revenue of $691.40 million for the quarter, compared to analyst estimates of $693.02 million. Pool Corp. had a net margin of 5.86% and a return on equity of 58.92%. Pool Corp.’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, equities analysts predict that Pool Corp. will post $3.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, November 7th. This represents a $1.24 annualized dividend and a yield of 1.22%. Pool Corp.’s payout ratio is 35.94%.
Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Pool Corp. by 12.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,608,080 shares of the company’s stock valued at $151,996,000 after buying an additional 181,577 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Pool Corp. by 4.0% in the third quarter. BlackRock Fund Advisors now owns 1,550,758 shares of the company’s stock valued at $146,578,000 after buying an additional 58,972 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Pool Corp. by 2.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,265,881 shares of the company’s stock valued at $119,651,000 after buying an additional 24,350 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Pool Corp. by 19.1% in the third quarter. Wells Fargo & Company MN now owns 941,818 shares of the company’s stock valued at $89,019,000 after buying an additional 150,853 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Pool Corp. by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 749,280 shares of the company’s stock valued at $70,454,000 after buying an additional 12,119 shares in the last quarter. Institutional investors own 91.93% of the company’s stock.
About Pool Corp.
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is also a distributor of irrigation and landscape products in the United States. The Company operates over 340 sales centers in North America, Europe, South America and Australia through its over four distribution networks, such as SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT).